CalAmp Corp. (News - Alert), a provider of wireless products, services and solutions, is set to acquire the operations of Wireless Matrix Corporation, a Herndon, VA-based wireless data communications solutions company. According to the terms of the agreement, CalAmp will acquire the U.S subsidiary of Wireless Matrix for a payment of $53 million.
The transaction is expected to be completed in March 2013.
Wireless’ acquisition will help the company to expand its turnkey offerings by leveraging Wireless Matrix Corporation's mobile workforce management and asset tracking applications for customers in its core verticals. Wireless Matrix’s software and wireless data solutions provide intelligence for managing, measuring and monitoring service execution.
Users consistently report greater on-time arrivals, increased productivity and lower total operating expenses.
The Wireless Matrix solution suite includes FleetOutlook, a Web-based platform providing fleet operators complete visibility of their operations and vehicle mounted cellular and satellite wireless data communication services.
Commenting on the pending acquisition of Wireless Matrix, Michael Burdiek, president and chief executive officer at CalAmp, said, "The acquisition of Wireless Matrix will position CalAmp as a leading provider of higher margin integrated hardware and software solutions. We are excited by the prospects of leveraging Wireless Matrix's robust mobile workforce management and asset tracking applications for customers in our energy, rail transportation and public safety verticals. We also see the opportunity to expand our turnkey offerings to global enterprise customers in new verticals such as construction, agriculture, and mining equipment.”
“Importantly,” he added, “we expect this transaction will accelerate our development roadmap and be a foundational step in our long term growth strategy, enabling CalAmp to offer higher margin turnkey solutions for new and existing customers. Overall, we expect this acquisition will accelerate our growth prospects within target markets and significantly enhance our competitive position."
Meanwhile, CalAmp Corp. recently appointed Justin Schmid to the position of senior vice president of marketing and business development, with responsibility for corporate marketing, branding, communications and partner relations, as well as overall positioning and global market development.
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Edited by Braden Becker